Disney CEO Bob Iger said crackdown on password sharing will start 'in earnest' this September
In February 2024, Disney announced plans to roll out paid sharing, following Netflix's decision to introduce paid sharing last year.
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During an earnings call on August 7, Disney CEO Bob Iger said the crackdown on password sharing will start 'in earnest' this September, curbing users from sharing their password with people outside their household.
In February 2024, Disney announced plans to roll out paid sharing and also began notifying users about the change, before launching paid sharing in a few countries in June.
As per reports Disney is getting serious about rolling out paid sharing to more subscribers. It follows Netflix's move. The streamer rolled out paid sharing last year. “We’ve had no backlash at all to the [paid sharing] notifications that have gone out and to the work that we’ve already been doing,” Iger said, as per reports.
The Walt Disney Company reported its third quarter earnings of fiscal 2024 on August 7 with CEO Bob Iger and CFO Hugh Johnston showcasing how Disney is uniquely positioned to succeed in the rapidly evolving media landscape.
“From movies to television, sports to news, theme parks to consumer products, Disney has an unmatched portfolio of businesses,” Iger and Johnston said in an executive commentary on Wednesday.
“Individually, each one of these businesses is at the top of their industry, but what makes Disney distinct is the way these businesses work seamlessly together to generate value. Our performance in Q3 demonstrates the strength of this complementary and balanced portfolio, as strength in our Entertainment segment and ESPN offset softer performance in our Experiences segment.”
Iger added in the earnings report that the company’s performance in the third quarter “demonstrates the progress we’ve made against our four strategic priorities across our creative studios, streaming, sports, and Experiences businesses.”
“This was a strong quarter for Disney, driven by excellent results in our Entertainment segment both at the box office and in DTC, as we achieved profitability across our combined DTC streaming businesses for the first time and a quarter ahead of our previous guidance,” he said.
Iger and Johnston noted that a core element to Disney’s century of success is “the dynamic way we leverage our world-class creativity across multiple business and revenue streams to fuel long-term value.”
